United States media giant Comcast considering challenge to Disney's 21st Century Fox bid

Comcast prepares to top Disney's $50 billion offer for Fox

United States media giant Comcast considering challenge to Disney's 21st Century Fox bid

In December, Walt Disney and 21st Century Fox agreed to a $52.4 billion deal in which Disney would acquire about half of Fox's TV-media assets, including its TV/film production company, FX Networks, National Geographic, regional sports channels, 30% interest in Hulu, and global TV networks and interests.

Comcast did not detail the exact value of its bid Wednesday, though sources have previously told CNN that the offer would be worth about $60 billion.

Comcast backed off of its attempts to purchase Fox in December, just before Disney made its $52.4 billion offer.

The Comcast deal would include Fox's 39% stake in European TV company Sky. It would give Disney access to more Marvel superheroes and the studios that produced the Avatar movies, "The Simpsons" and "Modern Family". The group announced last week that Lachlan Murdoch would assume the role of chairman and chief executive at the "new" Fox, which would be tightly focused around the Fox News Channel and sports cable channels.

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Cable TV giant Comcast says it is considering a takeover offer for Rupert Murdoch's 21st Century Fox, setting the stage for showdown with Walt Disney.

"While no final decision has been made, at this point the work to finance the all-cash offer and make the key regulatory filings is well advanced", Comcast said in a statement. "The structure and terms of any offer by Comcast, including with respect to both the spin-off of "New Fox" and the regulatory risk provisions and the related termination fee, would be at least as favourable to Fox shareholders as the Disney offer". Disney's stock was down 1 percent, while Fox shares were up 0.9 percent.

Comcast and Disney are on the verge of a head-to-head bidding war for Fox's entertainment properties. The U.S. Justice Department sued to stop the deal on antitrust grounds, saying that a combination of AT&T and HBO-owner Time Warner would be bad for consumers.

Fox has said it remained committed to its offer for Sky and is "considering its options", which means it could potentially raise its bid.

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Further complicating things here is the fact that Comcast is now in a bidding war for Sky. Today's Nerdist News is all about the potential threat to the Disney and Fox merger.

Fans were not happy about Comcast throwing down the Infinity Gauntlet on Disney.

Comcast won approval on Monday from the United Kingdom government to move ahead with the offer for Sky.

Larry Downes, project director at the Georgetown Center for Business and Public Policy, said Comcast's interest highlights the fact that content is becoming more important as ways to deliver content proliferate.

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